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NEW YORK (CNNMoney) — Home prices have taken such a beating and demand for rental units has increased so much that it’s now cheaper to buy a two-bedroom home than to rent one in most major U.S.

Why aren't more people flocking to an ostensibly cheaper housing option?. cheaper than renting in 98 out of 100 of the largest metro areas in the U.S.. of the biggest reasons young people aren't buying houses: Most of them. According to Trulia, buying in the Houston metro area is nearly 50 percent.

CHICAGO (MarketWatch) – It’s much cheaper to buy a home than rent one in 100 of the largest U.S. metropolitan areas, according to a report released on Thursday by the real-estate website Trulia.

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Should I buy or should I rent? For nearly a decade the answer has been buy.. The number of local housing markets where it is cheaper to rent than buy is growing by the day.. In 16 of the 23.

The average monthly rent in the U.S. is $1,477, and the average mortgage payment is $1,504. But there are cities all over the U.S. where it’s cheaper to buy than to rent – even in California.

According to Trulia, buying in the Houston metro area is nearly 50 percent cheaper than renting, and in a city where all housing is comparably cheap, buying looks good.

. the truth is that it is still cheaper to buy than rent in all of the 100. Where Buying Nets a Better Deal Than Renting: U.S. in nearly all markets.

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Well if you live in one of the country’s major cities, it may be more affordable to buy, if you can swing it. In 98 out of the 100 largest metropolitan areas, it’ now cheaper to buy than to rent,

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cheaper than renting with a traditional 30-year fixed rate mortgage in 98 of the 100 largest metro areas in the United States. It’s no surprise that the two metros where renting became cheaper than owning are San Jose and San Francisco, CA, where median home prices have jumped to over $1 million dollars this year.